we are planning to bring you a rally for president obama in youngstown, ohio. of course, the president will not be there. he is in washington. joe biden will be there. live coverage starting at 3:30 p.m. eastern. the president's statement expected at 12:45 eastern. right now, a discussion on the cost of campaign 2012 from this morning's washington journal. that is the last comprehensive report we would get from the campaign, party committees, other groups. when they spend money, especially these outside organizations, they have to report every 24 hours but they have spent. the big picture is pretty well defined. host: the romney and obama campaigns are expected to raise $1 billion each. what does this say about the election? guest: is very hours but they have competitive and close. people are engaged and interested. the president's campaign in 2008 also got to about $1 billion, but altogether with the parties donations. for both of them to be there is extraordinary. host: walk us through what you're looking at in terms of money raised. there are other groups at